Zacks Reiterates Neutral Rating for SCANA Corp. (SCG)
SCANA Corp. (NYSE:SCG)‘s stock had its “neutral” rating reaffirmed by Zacks in a research report issued to clients and investors on Monday, AnalystRatingsNetwork.com reports. They currently have a $50.00 price objective on the stock. Zacks‘ price target points to a potential upside of 5.91% from the company’s current price.
Zacks‘ analyst wrote, “SCANA Corporation reported strong third-quarter earnings that beat the Zacks Consensus Estimate. Going forward we expect modest growth to continue with the utility’s improving electric margins from customer growth and rate increases. We are also bullish about the steady progress of new electric generation plants within its service territory and nuclear expansion projects. The company is a stable, relatively strong and regulated integrated electric utility, supported by the favorable regional demographics and electric utility rate. However, we remain on the sidelines considering the company’s sensitivity to changes in coal, gas, oil and other commodity prices. Construction costs and delays could affect the timing of rate base growth, earnings, cash flow and the quality of the balance sheet. Considering this, we expect the stock to perform on par with the broader industry. “
SCG has been the subject of a number of other recent research reports. Analysts at Goldman Sachs Group Inc. cut their price target on shares of SCANA Corp. from $46.00 to $45.00 in a research note to investors on Monday, October 28th. They now have a “hold” rating on the stock. Separately, analysts at Barclays cut their price target on shares of SCANA Corp. from $56.00 to $51.00 in a research note to investors on Friday, October 4th. They now have an “equal weight” rating on the stock. Finally, analysts at Barclays reiterated a “hold” rating on shares of SCANA Corp. in a research note to investors on Tuesday, September 3rd. They now have a $56.00 price target on the stock. Nine analysts have rated the stock with a hold rating and one has given a buy rating to the company’s stock. The company currently has an average rating of “Hold” and an average price target of $50.40.
SCANA Corp. (NYSE:SCG) traded up 0.55% on Monday, hitting $47.47. 218,841 shares of the company’s stock traded hands. SCANA Corp. has a 52 week low of $44.72 and a 52 week high of $54.41. The stock’s 50-day moving average is $46.37 and its 200-day moving average is $49.54. The company has a market cap of $6.286 billion and a price-to-earnings ratio of 13.71.
SCANA Corp. (NYSE:SCG) last posted its quarterly earnings results on Thursday, October 31st. The company reported $0.94 EPS for the quarter, beating the Thomson Reuters consensus estimate of $0.92 by $0.02. The company had revenue of $1.05 billion for the quarter, compared to the consensus estimate of $1.12 billion. During the same quarter last year, the company posted $0.91 earnings per share. SCANA Corp.’s revenue was up 1.3% compared to the same quarter last year. On average, analysts predict that SCANA Corp. will post $3.38 earnings per share for the current fiscal year.
The company also recently announced a quarterly dividend, which is scheduled for Wednesday, January 1st. Investors of record on Tuesday, December 10th will be paid a dividend of $0.51 per share. This represents a $2.03 annualized dividend and a dividend yield of 4.30%. The ex-dividend date is Friday, December 6th.
SCANA Corporation is a holding company. The Company, through its wholly owned regulated subsidiaries, is primarily engaged in the generation, transmission, distribution and sale of electricity in parts of South Carolina and in the purchase, transmission and sale of natural gas in portions of North Carolina and South Carolina.
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